Raising The Minimum Wage Helps Seniors And Boosts The Social Security Trust Fund

[Omaha Steve]

http://nhlabornews.com/2015/02/raising-the-minimum-wage-helps-seniors-and-boosts-the-social-security-trust-fund/


By NH Labor News | February 11, 2015

Testimony On Raising The Minimum Wage From Lucy Edwards, President of the NH Alliance For Retired Americans
The following statement was e-mailed to the House Labor, Industrial and Rehabilitative Services Committee for the hearing on the minimum wage bills.

While retirement security may not be the first thing that you consider when you think about the minimum wage, it should be part of your decision making. New Hampshire is an old state, and getting older, and the health of our economy depends on the economic security of all our citizens. We retirees have a long experience with the working world, and none of us has seen a business succeed, no matter how great their product or service, without enough customers with money to spend. Demand is the main driver of successful business.

So how does the level of the minimum wage in New Hampshire affect retirees?

First: Social Security benefits are based on lifetime earnings.

Second: the ability to save for retirement outside of Social Security depends on earnings as well.

FULL story at link.

[Newest Reality]

1. Some radical thinking in there...

You don't hear this said very often:

New Hampshire is an old state, and getting older, and the health of our economy depends on the economic security of all our citizens.

Well, OF COURSE. Now, gather up the GOP and make them watch a movie that makes that point clear so we can move on. They seem to be so high on Koch and drinking a lot of MIC, so it may take several sessions:

[sunnystarr]

2. And that's how NAFTA and all

those trade deals are responsible for the SS shortfall. As those middleclass jobs were yanked from our shores, Social Security deposits lowered accordingly. The FICA tax is applied to much lower paychecks.